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Lot 19262

Image Information

Type Currency
Title Lot 19262
Country U.S.
Grade Choice About New 58
Service PCGS
Description New York, NY - Bank of New York $1000 18__ NY-1790 G188 SENC. Proof. PCGS Choice About New 58 Apparent. This is the highest denomination from the early 1840s unregistered New York Safety Fund series printed by Durand & Comp'y, New-York for the long-lived, historic bank. The four-subject large denomination plate sheet configuration was unique, with $300-$400-$500-$1000 from top to bottom, and only one complete sheet was ever cited and sold. That unique proof sheet was in the 1990 American Banknote Company Archive sale, lot 1256, at $12,650 and later, in the 2005 Memphis Schingoethe Part 3 sale for $16,100. Other than the $1,000 proof from that sheet, we know of only the present example, offered to collectors for the first time. Printed on India paper and mounted on its original cardstock. At the top center is America floating in the clouds, holding the stars and stripes and a shield; an eagle, wings outstretched helps to support the shield with his beak. The base vignette shows an eagle on globe, an early American motif that was used on the 1792 United States Mint Wright Quarter. The identical ends have a perpendicular "1000" on rectangular lathe work. Not hole punch cancelled, normal for proofs from this Durand imprint, but with "Minor Stains" noted by PCGS, scattered foxing actually, though not obtrusive or distracting. This is another important $1,000 New York City proof from the Newman collection and an unusual trove encountered only in long-time holdings like this or a banknote company archive. This is a historic title and a beautifully engraved note. Ex: Eric P. Newman Numismatic Education Society. Realized $7,050.00. Newman VI (Heritage Auctions, 4/2015), lot 19262. Description courtesy of Heritage Auctions.

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Image Collection Eric P. Newman Collection, Part VI
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